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GSK Pharma plans Rs 500-cr expansion of its Nashik unit

This investment is in addition to Rs 1,000 crore investment for a greenfield plant in Bengluru announced last year




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Pepsi, Monsanto to set up units in Maharashtra

Soft drink maker to put in Rs 500 cr to set up juice factory; Monsanto identifies Buldhana district for a seed plant




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Make in India: Nitin Gadkari unveils grand plan for logistics hubs and ports

Policy to boost logistics, ports and e-toll collection on anvil




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Govt sees 67% increase in disbursal through textile fund in 6 years

Eyes disbursal of Rs 30,000 crore under the Amended Technology Funds Scheme




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Govt to set up MSME units at Mumbai's NTC land

Centre denies selling NTC land in Mumbai; units to be allied sector of textile industry




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Make in India: 1,500 workers and a week to clear the junk

They'll be dismantling 27 pavilions spread over 2,30,000 sq mt of land owned by MMRDA




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CERC issues regulations achieve clean energy target, sound grid operations

Advises Centre to ask states to execute energy accounting & implement availability based tariff




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Government Of India Announces Sale Of Three Dated Securities For Rs 19,000 crore

The government of India (GoI) has announced the sale (re-issue) of three dated securities for Rs 19000 crore. These include 6.18% GS 2024 9,000, 7.57% GS 2033 4,000 and 7.16% GS 2050 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be price based (for all securities), using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.




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RBI Announces Rs 50,000 Crore Special Liquidity Facility for Mutual Funds

Heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom. The stress is, however, confined to the high-risk debt MF segment at this stage; the larger industry remains liquid. The RBI has stated that it remains vigilant and will take whatever steps are necessary to mitigate the economic impact of COVID-19 and preserve financial stability. With a view to easing liquidity pressures on MFs, it has been decided to open a special liquidity facility for mutual funds of Rs 50,000 crore.




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RBI Announces Rs 50,000 crore Special Liquidity Facility for Mutual Funds (SLF-MF)

Reserve Bank will review the timeline and amount, depending upon market conditions




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RBI Employees contribute ₹7.30 crore to PM CARES Fund

The employees of the Reserve Bank have decided to contribute one or more day's salary to the PM CARES Fund, in response to the call to support during the emergency situation. The total contribution from the employees amounting to ₹7.30 crore is being remitted to the PM CARES Fund. The COVID-19 pandemic and the related dislocation in normal economic activity has severely affected the economically weaker sections of the society and their means of livelihood. To help the people affected by any kind of emergency or distress situation, like the one posed by the COVID-19 pandemic, Government of India has set up a public charitable trust named Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) to receive contributions from various sources.




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Reserve Bank Extends Regulatory Benefits Under Special Liquidity Facility For Mutual Funds

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Employees of EPFO contribute Rs 2.5 crore to PM CARES fund

The employees of Employees Provident Fund Organization (EPFO) have come forward to support the Government's initiative in combating national crisis of COVID-19 pandemic and voluntarily contributed one day's salary- amounting to around Rs. 2.5 crore to the PM CARES Fund. EPFO, as one of World's largest Social Security Organizations, stands committed in the service of the nation in every possible way. The COVID-19, declared as a pandemic by the World Health Organization, has posed serious challenges for the health and economic security of millions of Indians. Government of India has set up a public charitable trust under the name of 'Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund' (PM CARES Fund) with the primary objective of dealing with any kind of emergency or distress situation. Officers and staff of EPFO are also contributing by putting in extra efforts for providing relief by expeditiously processing EPF withdrawal claims including COVID claims under




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Government Is Likely To Announce A Relief Package For MSME Sector Soon - Nitin Gadkari

Mr Nitin Gadkari, Minister of Road Transport and Highways and MSME, Govt of India said that government is likely to announce a relief package for the MSME sector soon. He further said that all stakeholders must adopt an integrated approach to come over the crisis while ensuring the lives and livelihood of the people. Mr Gadkari also urged the industry to have a positive attitude during this time to tide over this crisis. "We will win the fight against corona along with the economic crisis and make India the superpower nation. Hum honge kamyab," said Mr Gadkari.




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Country-Wide Lockdown Was Necessary But Has Had Deep Ramifications On Economic Activity: CII Survey

The country-wide lockdown imposed on 23rd March, while necessary, has had deep ramifications on economic activity. According to the CII CEOs Snap Poll on Impact of COVID-19 on Economy and Industry, while a majority of the firms continue to anticipate a significant decline in their topline, they now foresee a delay in economic revival and demand recovery. The survey saw the participation of more than 300 CEOs, of which nearly two-thirds belonged to MSMEs. The lockdown brought economic activity to a grinding halt and the survey findings indicate that a significant majority of the firms (65%) expect revenues to fall more than 40% in the current quarter (Apr-Jun 2020). For financial year 2020-21, the expectations of a fall in revenue are staggered, with 33% of the firms anticipating a revenue fall of more than 40%, closely followed by 32% of firms expecting a revenue contraction ranging between 20% to 40%.




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India Manufacturing PMI Plunges Sharply Into Contraction Zone

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Government of India announces the sale of three dated securities for Rs 19,000 crore

The government of India (GoI) has announced the sale (issue /re-issue) of three dated securities for Rs 19000 crore. These include 5.09% GS 2022 3,000 May 08, 2020, New GS 2030 (maturing on May 11, 2030) 10,000 and 7.19% GS 2060 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be Yield based for New GS 2030 and price based for remaining securities using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.




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RBI Launches May 2020 Round Of Consumer Confidence Survey

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Edible Oil Imports Plunge 34% On Year In April

The Solvent Extractors' Association (SEA), noted in a latest update that based on the available data, it has compiled provisional data for Import of Edible Oils for April 2020. The imports in April 2020 are reported at 790,377 tons compared to 941,219 in March 20 and 1,198,763 tons in April 2019, down by 34%, on YoY basis. The drop in April is mainly due to logistics issues at destinations as well as at discharge ports. The overall Import of Edible Oils during Nov-2019 to April-2020 is reported at 6,182,184 tons, compared to 7,203,830 tons during the same period of previous year, i.e. down by 14 %.




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RBI Announces Rate Of Interest On GOI Floating Rate Bonds 2024 At 3.62%

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State-run Banks Sanctioned Loans Worth Rs 5.66 Lakh Crore Over Last Two Months

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Hexaware Technologies launches KareRing, a cloud based quarantine zone management solution

KareRing adheres to standards like data encryption. Advanced tracking technology increases accuracy by using other sensory data. The app leverages AI-powered global identity verification to authenticate users' identity before onboarding them and uses data analytics and intelligence techniques to visualize user data. An inbuilt, WHO-compliant bot is used for user self-health assessment. The app has also an added functionality for healthcare organizations to evaluate the efficacy of the vaccine under trial.




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Zydus Cadila launches affordable prostate cancer treatment drug 'Obnyx'

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K C P resumes operations at engineering unit and cement production unit

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Tamil Nadu voters turnaround at 73.76

Rain and power cuts hits polling in southern districts




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Assembly Polls 2016 results: Counting of votes begins in 4 states

The counting of votes will decide the fate of approximately 8,300 candidates




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Tamil Nadu Assembly polls: Counting of votes begins

Counting is progressing in 68 centres across the state




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As counting starts for Tamil Nadu Assembly polls, Sun TV stock price down by 8.08%

Sun TV is promoted by DMK chief M Karunanidhi's grand-nephew Kalanithi Maran




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Sun TV sets, Raj TV rises on surprise TN poll outcome

Liquor shares end mixed despite DMK's defeat




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Tamil Nadu: Blow for Karunanidhi family's business interests?

Some with direct connections to political dispensations could face heat; others considered close to the winning party could expect good times




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Jayalalithaa deprives Karunanidhi of last hurrah

The J Jayalalithaa-led AIADMK has retained power by winning 134 seats in the 234 Assembly seats




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Arun Jaitley backs outsourcing of non-core functions of railways

The government had in September scrapped the 92-year old practice of presenting a separate railway budget




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Sops for railways unlikely as Jaitley says customers must pay for services

They have decided that by 2019 all its accounting will move to accrual system




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If others are moving Titanic, we're moving a speedboat: Kunal Bahl

Bahl's company has been in the middle of some firefighting over reports on how there are efforts to downsize as cash is depleting




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Nifty May futures at discount

India VIX cools 3% to 38.53.




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Coronavirus Update: California Borrows Federal Cash, United Plans Cuts

California is the first state to borrow federal funds to cover rising jobless claims, United Airlines expects to cut its management ranks by 30%, and the FDA sets standards for antibody tests in a crackdown on fraud. WSJ’s Jason Bellini has the latest on the pandemic. Photo: Rich Pedroncelli/Associated Press




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Kim Jong Un Re-Emerges, Strolling and Smoking

State-media footage shows North Korean leader Kim Jong Un cutting the ribbon at a fertilizer factory, ending a nearly three-week absence from public view that fueled rumors of his death. Photo: KRT/Associated Press




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VST Industries announces resumption of operations

VST Industries said that the company has resumed its manufacturing operations with restricted capacity and manpower considering the permission granted by the State Government of Telangana.




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UN: Live animal markets shouldn't be closed despite virus

The World Health Organization (WHO) said on Friday that although a market in the Chinese city of Wuhan selling live animals likely played a significant role in the emergence of the new coronavirus, it does not recommend that such markets be shut down globally. In a press briefing, WHO food safety and animal diseases expert Peter Ben Embarek said live animal markets are critical to providing food and livelihoods for millions of people globally and that authorities should focus on improving them rather than outlawing them -- even though they can sometimes spark epidemics in humans. "Food safety in these environments is rather difficult and therefore, it is not surprising that sometimes we also have these events happening within markets," Ben Embarek said. He said reducing the risk of disease transmission from animals to humans in these often overcrowded markets could be addressed in many cases by improving hygiene and food safety standards, including separating live animals from ...




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'Younger' spinoff with Hilary Duff in development at ViacomCBS

A new series based on actor Hilary Duff's character from "Younger" is in works at ViacomCBS. According to The Hollywood Reporter, the company is working with "Younger" creator Darren Star on the spin-off show that will see Duff returning as Kelsey Peters. The new show could be headed to Paramount Network, where the original series was slated to move for its sixth season. But the plans were shelved and the show remained in its original home on TV Land, which is owned ViacomCBS. "Younger", which started in 2015, features Sutton Foster as Liza Miller, a 40-year-old divorcee who has to manage her career in a publishing company having faked her identity as a younger woman to get her job, while her romantic and professional lives are measured against ups and comings. Duff's Kelsey Peters is a book editor at Empirical Press who befriends Liza after they start working together. The show also stars Nico Tortorella, Peter Hermann, Miriam Shor, Debi Mazar, Molly Bernard and Charles Michael




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WHO, UN's postal agency release commemorative stamp on 40th anniversary of smallpox eradication

The WHO and the UN's postal agency have released a commemorative postage stamp on the 40th anniversary of the eradication of smallpox, with the head of the global health body expressing gratitude to a top Indian-origin UN official. In May 1980, the 33rd World Health Assembly issued its official declaration that "the world and all its peoples have won freedom from smallpox." It was ended on the back of a 10-year WHO-spearheaded global effort that involved thousands of health workers around the world to administer half a billion vaccinations to stamp out smallpox. "When WHO's smallpox eradication campaign was launched in 1967, one of the ways countries raised awareness about smallpox was through postage stamps when social media like Twitter and Facebook was not even on the horizon," World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said. "I especially want to thank my friend Mr Atul Khare, United Nations Under-Secretary-General for Operational Support, for ...




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Taylor Swift unveils 'City of Lover' concert special for ABC

Pop star Taylor Swift has announced an hour-long concert special "City of Lover" which will air on ABC. The announcement comes weeks after Swift was forced to cancel all of her 2020 live appearances and performances, including "Lover Fest East" and "Lover Fest West" , due to coronavirus pandemic. The special, which will air on May 17, was filmed in September at the L'Olympia Theater in Paris, where she performed in front of audiences from 37 countries. It will be available for streaming on Disney Plus and Hulu on May 18. "Excited to announce the City of Lover Concert! We filmed my show in Paris in September and thought it'd be fun to share it with you. May 17 at 10p ET on @abcnetwork and available the next day on @hulu and @disneyplus !#TaylorSwiftCityOfLover" the 30-year-old singer tweeted on Friday. The musical event gives fans unprecedented access to behind-the-scenes moments with the artist and marks her only concert performance this year, ABC Network said in a press ...




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Bob Dylan announces first album of original songs in 8 years

Music icon Bob Dylan is set to release his first album of original songs in eight years, Rough and Rowdy Ways, on June 19. The album is a follow up of 2012's "Tempest. The Nobel Prize-winning singer shared the release date of his new studio effort on Instagram and also released a third song from the album, the guitar-heavy False Prophet". The song follows Murder Most Foul and I Contain Multitudes. The album, his 39th collection of original songs, is said to be named after the 1929 Jimmie Rodgers classic My Rough and Rowdy Ways. It has ten tracks; on the CD version, while the 17-minute-long Murder Most Foul will get its own disc.




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Luke Greenfield to direct action-thriller 'We Are Untouchable'

Luke Greenfield, the director of films such as "The Girl Next Door" and "Something Borrowed", will helm STXfilms' upcoming movie "We Are Untouchable". The director will also co-write the action-thriller in collaboration with Captain Mauzner, reported Deadline. The screenplay has been penned by Oritte Bendory and Aaron Feldman with revisions by Michael Diliberti and by Anthony Drazan. The story is about a group of international college grads working in Mexico City at their respective diplomatic embassies. "By day, they're slaving away as mailroom assistants getting abused by their bosses. But when they find out they have diplomatic immunity and they can't get arrested for anything they do they go wild with it and live out their fantasies. "Soon they're living double lives in the ultimate wish-fulfillment...until it isn't. They gradually fall into serious danger when they get entangled with a violent and savage group who extort them for their 'get out of jail free' cards," the ...




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Russian volunteers search for fallen World War II soldiers

Crouching over the sun-drenched soil, Alfred Abayev picks up a charred fragment of a Soviet warplane downed in a World War II battle with advancing Nazi forces. You can see it was burning, he says, pointing at the weathered trace of a red star. Abayev and members of his search team rummage the steppe for remains of the Red Army soldiers who fell in the autumn of 1942 in fierce fighting with Nazi troops pushing toward the Caspian Sea south of Stalingrad. Stiff resistance by the Red Army stopped the Wehrmacht onslaught in the steppes of Kalmykia, and months later the enemy's forces were encircled in Stalingrad and surrendered, a major defeat for the Nazis that marked a turning point in World War II. The search for remains of fallen Red Army soldiers near Khulkhuta, in Kalmykia, a southern province that lies between the Volga River and the Caspian Sea, is part of a broad effort by myriad volunteer groups across Russia to pay tribute to fallen World War II soldiers. Russia's losses stood .




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Coronavirus takes a toll in Sweden's immigrant community

The flight from Italy was one of the last arrivals that day at the Stockholm airport. A Swedish couple in their 50s walked up and loaded their skis into Razzak Khalaf's taxi. I t was early March and concerns over the coronavirus were already present, but the couple, both coughing for the entire 45-minute journey, assured Khalaf they were healthy and just suffering from a change in the weather. Four days later, the Iraqi immigrant got seriously ill with COVID-19. Still not able to return to work, Khalaf is part of the growing evidence that those in immigrant communities in the Nordic nations are being hit harder by the pandemic than the general population. Sweden took a relatively soft approach to fighting the coronavirus, one that attracted international attention. Large gatherings were banned but restaurants and schools for younger children have stayed open. The government has urged social distancing, and Swedes have largely complied. The country has paid a heavy price, with 2,769 ...




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Gunfire kills 6 at Afghan protest calling for economic aid

A shootout erupted on Saturday at a protest in western Afghanistan by residents demanding economic assistance, leading to the deaths of at least six people, including a local reporter and two police officers, officials said. Interior Ministry spokesman Tareq Arian said the protesters had gathered outside the governor's office in Feroz Koh, the capital of the western Ghor province. They were demanding relief after weeks of restrictions aimed at containing the coronavirus pandemic. He said some people at the protest opened fire at police, igniting a gun battle that killed the six people and wounded another 19, including nine police. The ministry has launched an investigation and plans to send a delegation to the province. Afghanistan was already mired in poverty before the onset of the pandemic, which has infected nearly 3,800 people in the country and killed at least 109. Many Afghans rely on day labour, which has dried up because of the closure of nonessential businesses.




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Not giving it up cold turkey: Bird hunters just winging it

The coronavirus pandemic has cancelled dozens of spring traditions, from college basketball's Final Four to Easter Sunday services, but there's one rite that's going on largely unfettered turkey hunting. Every state except Alaska, which is the only state with no turkeys, hosts a spring turkey hunt each year. The birds, whose domesticated cousins grace Thanksgiving tables from Hawaii to Maine, are among America's greatest conservation success stories. The hunt is taking on a new look in some parts of the country this year due to social distancing laws. Many states, including Maine, are requiring out-of-state residents to self quarantine for two weeks when they enter the state. That functionally eliminates out-of-state hunters from coming to the Pine Tree State to bag a bird. Other states, including Kansas, have suspended the sale of turkey permits to non-residents to reduce spread of the coronavirus. Some have suspended the need to register a bird after shooting it. But all 49 states .




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Delhi violence: Court dismisses bail plea of man who pointed gun at policeman

Right to peaceful protest and open criticism of government policies does not extend to disturbing public order, a Delhi court said on Friday, dismissing the bail plea of Shahrukh Pathan, who allegedly pointed a gun at a head constable during the northeast Delhi riots. Taking note of the viral video footage of the incident, Additional Sessions Judge Sanjeev Kumar Malhotra refused to grant relief to Pathan. "The right to protest is a fundamental right in a democracy but this right of peaceful protest and open criticism of government policies does not extend to disturbing the public order... Keeping in view the totality of facts and circumstances of the case at this stage, I am not inclined to grant bail to the accused. Bail application accordingly stands dismissed," the judge said in the order. During the hearing held through video conferencing, Special Public Prosecutor, appearing for the police, opposed the bail application saying Pathan was leading the mob and the whole country saw ..




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C'garh: 4 Naxals, one police official killed in encounter

Four Naxals, including two women, and a police official were killed in an exchange of fire in Rajnandgaon district of Chhattisgarh, police said on Saturday. The incident took place on Friday night at Pardhauni village under Manpur police station limits, located over 150 kms from here, when a team of security forces was out on a counter-insurgency operation, Inspector General of Police (Durg range) Vivekanand Sinha said. Acting on a tip-off about the presence of ultras in the village, security forces had launched the operation. "When the patrolling team was cordoning off the area, Naxals suddenly came out of the village and the encounter broke out between the two sides," he said. "Police Sub Inspector (SI) S K Sharma, who was posted as the Station House Officer at Madanwada police station, lost his life in the gunfight," the IG said. Bodies of the four Naxals were recovered from the spot along with an AK47 rifle, an SLR rifle and two 315 bore rifles, he said. Reinforcement .